Intuit Inc. reported its financial results for the third quarter of fiscal 2025, showing a total revenue increase to $7.8 billion, a 15 percent rise compared to the same period last year. Key segments also saw growth, with Consumer Group revenue at $4.0 billion (up 11 percent) and Global Business Solutions Group revenue reaching $2.8 billion (up 19 percent). The company also noted a significant increase in Credit Karma revenue, which grew by 31 percent to $579 million. Additionally, GAAP diluted earnings per share rose to $10.02, reflecting a 19 percent increase from the previous year.
In light of these results, Intuit has raised its full-year guidance for fiscal 2025 across all total company metrics. The updated expectations include total revenue between $18.723 billion and $18.760 billion, representing approximately 15 percent growth. The company also anticipates a GAAP operating income growth of approximately 35 percent and a GAAP diluted earnings per share of $13.19 to $13.24, indicating a growth of about 26 to 27 percent. Intuit's financial performance and revised guidance may impact investor sentiment and stock price.
linkMay 22, 2025 16:02:36
Intuit Inc. announced its financial results for the second quarter of fiscal 2025, reporting total revenue of $4.0 billion, a 17 percent increase compared to the previous year. The Global Business Solutions Group revenue grew by 19 percent, with Online Ecosystem revenue rising 21 percent. Credit Karma saw a significant revenue increase of 36 percent. Additionally, GAAP operating income rose to $593 million, marking a 61 percent growth, while diluted earnings per share reached $1.67, up 34 percent from last year.
However, not all segments performed positively. The Consumer Group revenue increased by only 3 percent to $509 million, and the ProTax Group revenue experienced a slight decline of 1 percent, totaling $272 million. Despite these mixed results, Intuit has reiterated its full-year guidance, maintaining expectations for double-digit revenue growth and margin expansion.
linkFeb 25, 2025 16:01:56
Intuit Inc. announced a revenue increase to $3.3 billion for the first quarter of fiscal 2025, reflecting a 10 percent growth compared to the previous year. The Global Business Solutions Group and Credit Karma contributed significantly, with Online Ecosystem revenue rising 20 percent and Credit Karma revenue increasing by 29 percent. Additionally, the company reported a quarterly dividend of $1.04 per share, marking a 16 percent increase from the same period last year.
However, the company faced declines in its Consumer Group and ProTax Group revenues, which fell by 6 percent and 7 percent, respectively. Operating income decreased by 12 percent to $271 million, and earnings per share also saw an 18 percent drop to $0.70. The financial results were impacted by a restructuring charge and a net loss on a private company investment, highlighting some challenges in certain segments of the business.
linkNov 21, 2024 16:07:42
Intuit Inc. has outlined its non-employee director compensation structure for 2025, which includes annual stock grants valued at $280,000 for regular directors and $350,000 for the Chair of the Board. These grants will vest fully after 12 months, with provisions for mid-year appointees to receive pro-rated amounts. Directors are also required to hold shares valued at ten times their annual cash retainer, promoting long-term investment in the company. Additionally, annual cash retainers for directors are set at $75,000, with extra compensation for committee chairs and members.
However, the compensation plan does include a mandatory deferral on the payment of grants and cash retainers until certain conditions are met, such as termination or a corporate transaction, which may limit immediate financial benefits for directors. While the structured compensation aims to align directors' interests with those of shareholders, the deferral requirements could pose challenges for directors relying on cash flow from their service. Overall, the compensation framework reflects a balance between immediate remuneration and long-term incentives.
linkNov 04, 2024 16:16:22
Intuit Inc. announced impressive financial results for the fourth quarter and full fiscal year 2024, demonstrating a 13% increase in total revenue, reaching $16.3 billion. The company saw significant growth in its Small Business and Self-Employed Group, with a 19% revenue increase, and a notable 24% rise in GAAP earnings per share. Despite some challenges in the Consumer Group, where revenue dipped by 12%, the overall performance indicates a robust demand for Intuit's financial technology products and services, positioning the company for continued success in the future.
However, the fourth quarter did reveal a loss in GAAP operating income, largely due to a restructuring charge of $223 million. This restructuring, while necessary for future growth, impacted the quarterly results. Furthermore, the Consumer Group's decline in TurboTax units raised concerns about market share. Despite these challenges, Intuit's commitment to innovation and customer satisfaction remains evident, as reflected in their strategic focus on AI-driven solutions and enhanced product offerings.
linkAug 22, 2024 16:01:49
Intuit has appointed Forrest Norrod, an AI expert from AMD, to its board of directors. This move is expected to enhance Intuit's AI innovations and strengthen its position as a global AI-driven platform. CEO Sasan Goodarzi emphasized the benefits of AI for consumers and small businesses. Norrod's extensive experience in technology and leadership will guide Intuit's future endeavors. With this addition, the board now comprises 13 directors, reflecting Intuit's commitment to growth and innovation.
linkJul 25, 2024 11:08:46
Intuit is focusing on AI technology to enhance customer experiences and increase efficiencies. The company plans to invest in key growth areas, hiring 1,800 new employees while letting go of 1,800 others. Strategic investments include accelerating AI-powered financial solutions, expert platforms, fintech services, mid-market offerings, and international expansion. The company aims to support its workforce changes with compassion and respect, emphasizing increased performance expectations, executive restructuring, and technology role consolidation.
linkJul 10, 2024 08:35:39
Intuit Inc. announced a 12% revenue increase in Q3, with Small Business and Self-Employed Group revenue growing by 18%. The company raised its full-year revenue, operating income, and earnings per share guidance. TurboTax Live revenue is expected to grow by 17%. Online Ecosystem revenue increased by 19%. Credit Karma revenue rose by 8%. Intuit also reported strong capital allocation, with a dividend increase of 15% and $584 million in share repurchases.
linkMay 23, 2024 16:01:45
Intuit appoints Vasant Prabhu, former CFO of Visa, to its board. Prabhu's financial services expertise will aid Intuit's financial technology leadership. His experience in innovation, global expansion, and scaling businesses internationally is expected to guide Intuit's growth. With Prabhu's addition, Intuit's board now has 12 directors.
linkMay 02, 2024 13:10:32
Intuit Inc. announced strong second-quarter results with total revenue up 11%. Small Business and Self-Employed Group revenue grew 18%, while Online Ecosystem revenue increased by 21%. However, Consumer Group revenue decreased by 5% due to the IRS opening later this year. Intuit's ProTax Group revenue grew by 8%. The company reported a quarterly dividend increase of 15% and a share repurchase of $536 million.
linkFeb 22, 2024 16:03:01